Rich dad poor dad

Question 1

The poor and middle class work for money

Answer 1

The rich have money working for them

Question 2

Rich people acquire liabilities that they think are assetes

Answer 2

Know the difference. But assets.

Question 3

Assets puts money in your pocket.

Answer 3

Liabilities takes money out of your pocket.

Question 4

Real assets

Answer 4

• Business that do not require my presence.
• Stocks (aktier)
• Bond (obligationer)
• income-generating real estate (ejendom)
• notes (IOweYouS) - lån?
• royalties fx. Patent

Question 5

Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities

Answer 5

.

Question 6

Once a dollar goes into your assets column….

Answer 6

It becomes your employee

Question 7

Knowlegde to master

Answer 7

Accounting
Investering
Understanding markets
The law

Question 8

5 main reasons finacially literate people not develop abundance in their assets column

Answer 8

1. Fear
2. Cysnism
3. Laziness
4. Bad habits
5. Arrogance

Question 9

Failure inspires winners

Answer 9

Failure defeat losers

Question 10

Cynics criticize - Winners analyze

Answer 10

.

Question 11

What I know makes me money. What I don’t know loses me money. Every time I have been arrogant, I have lost money. Because when I’m arrogant, I truly believe that what I don’t know is not important.

Answer 11

When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or a book on the subject.

Question 12

It is easy to stay the same

Answer 12

It is not easy to change.

Self-doubt and laziness keeps you from your goals.

Question 13

If you want something, be passionate.

Answer 13

Passion gives energy to your life.

Question 14

If you want something you do not have

Answer 14

Find out why you love what you want and why you hate not having what you want.

Comebine those two thoughts and you will find the energy to get off your seat and go get anything you want.

Question 15

Form of leverage

Answer 15

Health, time, education and relation

Question 16

Leverage: Doing more and more

Answer 16

With less and less

Question 17

Small business owners serves people personally

Answer 17

Big business owners uses a system to serve as many people as possible

Question 18

Realities

Smart/risky

Job security
Building business
A big house
Apartment Houses
Saving money
Investing money
The rich are greedy or generous

Answer 18

.

Question 19

If you want to get rich, dont ask for a raise

Answer 19

Ask how can you serve more people

Question 20

Good and bad income

Answer 20

1. Ordinary income
2. Portfolio income
3. Passive income

Question 21

Why ordinary income is bad

Answer 21

1. Highest taxed income
2. Personally have to work it.
3. Takes your valuable time
4. Little leverage (ordinary people Work Harder to earn more)
5. No residual value for the Work (Work, get paid, repeat)

Question 22

Work hard for passive income

Answer 22

Working less and less

Question 23

It is not how much money you make

Answer 23

But how much money you keep (after taxes)

Question 24

50 procent money

Answer 24

From ordinary income where at least 50% Will go on taxes